AUD/USD M10 Chart: Channel Up

Source: Dukascopy Bank
© Dukascopy Bank SA
There is a rising channel pattern forming on the AUD/USD M10 chart. Pattern is in its initial phase. Price has rebounded from a support level at 1.0547 and is currently around 1.0573. Traders could expect level capture at 1.0600. RSI has been growing during the last 60 bars but is still neutral. If 1.0600 is not be achieved there is a possibility of a double top pattern forming that would be a signal of the present trend change.
© Dukascopy Bank SA
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